Rubicon Project changes name to Magnite

Rubicon Project changes name to Magnite
Magnite logo

Rubicon Project this week was rebranded to Magnite. Rubicon Project says Magnite is “the world’s largest independent sell-side platform for every channel and format.”

Last year, Rubicon Project and Telaria announced a merge to capture growth in Connected TV. The name change was expected for both companies, now merged.

Before the merger, last year, Rubicon Project was listed in 41.9% of all ads.txt files, only behind AppNexus (Xandr) with 42%, and Google 99%.

Last month, Mark Zagorski, COO, and former CEO of Telaria, left Rubicon Project showing that a merger is always an acquisition.

The company gave a negative guidance for Q2 2020 this year, on the earnings announcement for the first quarter of the current year.

From Rubicon to Magnite

“Magnite is a concocted word … but it touches on a couple of things, as it brought in that element of permanence as it seems stone-like, like it’s been there forever.” said Michael Barrett, CEO and president of Magnite to Adweek.

AdExchange reports that Magnite meant to evoke magnetism and the “-ite” of a mineral.

Rubicon Project, now Magnite, this month moved the listing from NYSE to Nasdaq. Tomorrow, the stock ticker name will change from RUBI to MGNI.

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